How Has The Bioplastics And Biopolymers Market Size Evolved Historically?
The bioplastics and biopolymers market has seen considerable growth due to a variety of factors.
• Recently, there has been a quick expansion in the market size of bioplastics and biopolymers. This market is projected to rise from $11.81 billion in 2024 to $13.95 billion in 2025, with a compound annual growth rate (CAGR) of 18.1%. The improvements observed in the historic period are tied to factors like decreasing reliance on fossil fuels, governmental laws and regulations, increased environmental consciousness, consumer inclination towards eco-friendly products, considerations for waste management, usage of renewable resources, initiatives for corporate sustainability, and promotional public awareness programs.
What Does Future Hold for The Bioplastics And Biopolymers Market Size?
The Bioplastics And Biopolymers market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the bioplastics and biopolymers market is anticipated to experience swift expansion, growing to $27.07 billion in 2029 with a compound annual growth rate (CAGR) of 18.0%.
This growth during the forecast period is attributable to an escalating global plastic pollution crisis, rising consumer demand for eco-friendly packaging, bio-derived materials for textiles and fibers, government support for bioplastic research, substitution of single-use plastics, the development of progressive biodegradable polymers, and infrastructural enhancements for bioplastic processing. Significant trends for the forecast period encompass biodegradability and compostability, renewable raw materials, technological evolution, hybrid materials, waste conversion to bioplastic technologies, bio-based polyethylene terephthalate (PET), life cycle assessments (LCAs), as well as collaborations and alliances.
What Are The Primary Growth Drivers In The Bioplastics And Biopolymers Market?
The bioplastics and biopolymers market expansion is being propelled by an increasingly growing demand for packaged foods. These are prepared food items and drinks that get covered in either permeable or impermeable materials to protect them from the environmental influences and potential contaminants. Bioplastics and biopolymers play a significant role in retaining the freshness of these items longer, guard them against moisture, pollutants and UV radiation among other factors, enhancing their shelf-life. For instance, as per the U.S. Department of Agriculture, in April 2022, there was a 0.6% hike in the Consumer Price Index (CPI) for food that is eaten away from home, like in restaurants, which was a 7.2% increase from April 2021. This led to a surge in the usage of appropriate packing materials. Additionally, the Indian Brand Equity Foundation (IBEF), a body formed by the Department of Commerce in India to endorse Indian products, has forecasted that the Indian packaged food market is set to grow fourfold and hit US$70 billion in the approaching five to ten years. Hence, the burgeoning demand for packaged food is likely to contribute considerably to the growth of the bioplastics and biopolymers market in the forthcoming period.
What Is The Segmentation Of The Global Bioplastics And Biopolymers Market?
The bioplastics and biopolymers market covered in this report is segmented –
1) By Type: Non-Biodegradable Or Biobased, Biodegradable, Other Types
2) By Raw Materials: Biomass, Natural Or Genetically Modified Organisms, Bio-Based Monomers, Petrochemicals
3) By End-Use Industry: Packaging, Consumer Goods, Automotive And Transportation, Textiles, Agriculture And Horticulture, Other End-Use Industries
Subsegments:
1) By Non-Biodegradable Or Biobased: Bio-Based Polyethylene (Bio-PE), Bio-Based Polypropylene (Bio-PP), Bio-Based Polyethylene Terephthalate (Bio-PET)
2) By Biodegradable: Polylactic Acid (PLA), Polyhydroxyalkanoates (PHA), Starch-Based Plastics, Polybutylene Succinate (PBS)
3) By Other Types: Biocomposites, Bio-Based Thermoplastic Elastomers, Other Emerging Biopolymers
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What Emerging Trends Are Shaping The Bioplastics And Biopolymers Market Landscape?
Product innovations have been identified as the top trend in the bioplastics and biopolymers market. Firms in the industry are coming up with new ways of creating bioplastics and biopolymers, utilizing algae to maintain their place in the market. Bioplastics and biopolymers derived from algae originate from plants that thrive in moist environments and do not have stems or leaves. For instance, Kelpy, an Australian bioplastics startup, introduced a bioplastic pellet made entirely of seaweed in April 2023. These are to counteract the immediate demand for eco-friendly alternatives to conventional oil-based plastics. Bioplastic pellets, created from renewable resources like corn starch, possess similar mechanical traits to regular plastics, like durability and adaptability, but also have the advantage of being biodegradable, thereby lessening the long-term effect on the environment. These pellets, created from free-provided raw material Sargassum, are expected to be low-cost. With their compatibility with current manufacturing machinery, the switch from traditional plastics can be smooth. Their adaptability allows them to be applied to various uses, ranging from food packaging to cosmetic containers.
Who Are the Key Players In The Bioplastics And Biopolymers Market?
Major companies operating in the bioplastics and biopolymers market include:
• NatureWorks LLC
• Odbinv S.A.
• BASF SE
• TotalEnergies Corbion Ltd.
• Novamont S.P.A
• Biome Bioplastics Limited
• Mitsubishi Chemical Holding Corporation
• Toray Industries Inc.
• Plantic Technologies Ltd.
• Bio-on Plants S.r.l.
• Eastman Chemical Company
• Futamura Group
• Danimer Scientific Inc.
• Corbion NV
• Arkema SA
• Cardia Bioplastics Limited
• Eni S.p.A.
• FKuR Kunststoff GmbH
• CCL Industries Inc.
• Kaneka Corporation
• Metabolix Inc.
• NaturePlast
• Newlight Technologies Inc.
• PTT MCC Biochem Company Limited
• Rodenburg Biopolymers BV
• Shenzhen Ecomann Biotechnology Co. Ltd.
• Showa Denko KK
• Solanyl Biopolymers Inc.
• Solegear Bioplastic Technologies Inc.
• Stora Enso Oyj
What Are The Regional Insights Into The Bioplastics And Biopolymers Market?
North America was the largest region in the bioplastics and biopolymers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global bioplastics and biopolymers market share during the forecast period. The regions covered in the bioplastics and biopolymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
